Gasoline gallon equivalents (Gallons) delivered during the first quarter of 2009 totaled 18.3 million, compared with 17.6 million Gallons in the year-ago quarter. Gasoline gallon equivalents incorporate the company’s sales of CNG, LNG, and biomethane and the Gallons related with offering operations and maintenance services.
Gross margins increased to $8.6 million, which is up from $7.5 million in the first quarter of 2008.
Non-GAAP loss per share for the first quarter of 2009, which excludes employee-related stock based compensation charges and the mark-to-market loss on the company’s Series I warrants, was $0.06. This compares with non-GAAP loss per share of $0.07 in the first quarter of 2008.
Andrew J. Littlefair, Clean Energy’s president and chief executive officer, said, We are seeing positive momentum for the natural gas industry. Despite the pressures of a weak economy, we continue to win contracts to build new stations and serve a growing number of natural gas fleets. Our new contracts also reflect geographic expansion that bodes well for our long-term success.
We also look forward to the outcome of the Bill (H.R. 1835) that was introduced into the House in early April. Named the New Alternative Transportation to Give Americans Solutions Act, or NAT GAS Act, it is intended to create and expand incentives that will advance the use of natural gas as a primary transportation fuel. From local to federal levels, we expect current and new incentives will broaden public awareness of the benefits of natural gas and will drive demand for natural gas vehicles nationwide.
